The United Kingdom’s new Prime Minister, Andy Burnham, said that from April he would cut business property rates by 20% for pubs, clubs and live music venues, a measure that will cost the government £100 million a year.
“This government will support the businesses that people want to see in their communities,” Burnham said.
Chancellor of the Exchequer John Healey, who also took office this week, said he wanted to go even further in reducing operating costs for businesses in the United Kingdom, in an effort to curb the pessimism surrounding the economy.
A. Burnham took office as UK Prime Minister on Monday, 20 July, following the resignation of his predecessor, K. Starmer.
The measure will save a typical pub, for example, around £1,100 and will benefit nearly 32,000 businesses.
Earlier, he had announced plans to remove a levy from household electricity bills and introduce a cap on bus fares.
However, Burnham did not announce any relief measures for the restaurant and hotel sectors, nor did he meet the industry’s demand for the sales tax to be halved. Allen Simpson, CEO of the industry body UKHospitality, welcomed the reductions for pubs but called on the government to take more decisive action.
Source: Reuters
